2019 Harvest Price Discovery

Both wheat types lost value during last week's trading. Hopefully this trend can

2020 Projected Harvest Price Discovery

Canola price for 2020 is official, RMA released the $.1650 this past week. It appears to me that the current price does not reflect the basis differential that is also part of the calculation. I've sent an inquiry regarding. For reference, 2019 basis differential was just under $1, at $.9925, this value is finalized for the crop year around September 1st.

* Discovery period for fall canola is complete, $.1650 is the announced price for 2020.** It appears that the current average price posted by RMA does not reflect the 5yr CHI/PDX basis differential.

Brazil

I caught an interview indicating 1400 square miles, or just under 900,00 acres, have been cleared to ready for production (soybeans). I'm sure this was planned and just a coincidence with the current US/China trade relations.

Markets

Last week was rough throughout virtually all commodities and markets. The rout started in cattle after the reported Tyson plant fire in Kansas, this extended to corn and wheat after the latest USDA report, and then the equities thereafter...

Equities

Fire

Why does oil/gas prices increase after a refinery fire, yet cattle markets go limit down when a slaughter plant has a fire? Cattle slaughter is at 91%, the facility accounts for 5% of the weekly, 6k daily/30k weekly. Industry has remaining capacity even after the fire, albeit logistic challenges are now present. For you non-cattle producers, the financial impact was $100 per head. Kudos to Tyson who will continue to pay employees during the rebuild process, to keep labor available and ready.https://www.agweb.com/article/overdone-cattle-markets-continue-retreat-after-tyson-fire?